SCENARIO 13-12 The Manager of the Purchasing Department of a Large Saving

question 203

Multiple Choice

SCENARIO 13-12
The manager of the purchasing department of a large saving and loan organization would like to develop a model to predict the amount of time (measured in hours) it takes to record a loan application. Data are collected from a sample of 30 days, and the number of applications recorded and completion time in hours is recorded. Below is the regression output:




-Referring to Scenario 13-12,the value of the measured t-test statistic to test whether the amount of time depends linearly on the number of loan applications recorded is

• A)0.8924
• B)3.2559
• C)15.2388
• D)232.2200

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Definitions:

Alternative Hypotheses

In statistical testing, these are hypotheses that suggest there is a difference or effect, in contrast to the null hypothesis, which suggests there is no effect.

Sinus Drug

Medication intended to treat sinus conditions, often focusing on reducing inflammation, congestion, or infection within the sinus cavities.

Significance Level

The threshold chosen by the researcher for rejecting the null hypothesis; often denoted by alpha (α) and used in hypothesis testing.

Mousetrap

A device designed to catch or kill mice, typically involving a spring-loaded mechanism.